Special counting requirements.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Purchases of participation interests in AMA mortgages from another Bank, except as provided in paragraph (e) of this section; (2) Commitments to buy mortgages at a later date or time; (3) Options to acquire mortgages; (4) Rights of first refusal to acquire mortgages; (5) Any interests in mortgages that the Director determines, in writing, shall not be treated as interests in mortgages; (6) Mortgage purchases to the extent they finance any dwelling units that are secondary residences; (7) Single-family refinancing mortgages that result from conversion of balloon notes to fully amortizing notes, if a Bank already owns, or has an interest in, the balloon note at the time conversion occurs; (8) Purchases of subordinate lien mortgages; (9) Purchases of mortgages that were previously counted by a Bank under any current or previous housing goal within the five years immediately preceding the current performance year; (10) Purchases of mortgages where the property has not been approved for occupancy; and (11) Any combination of factors in paragraphs (b)(1) through (b)(10) of this section. (c) (1) (2) (3) (4) (d) (e)

official document · source cfr-2024 · id 12:§ 1281.13